Amazing.

How many other companies are selling at nearly 250% of their post-September 11th price?

[This message has been edited by JonNYC (edited 01-03-2002).]

It had a nice run. However, CAL is still below the Sept.10 close. I traded some CAL with you and am still long AMR. AMR's price/net tangible equity made it a safer bet for me.

They all appeared to break out today. I call it the embarrassment factor. Portfolio managers were too embarrassed to carry an airline stock on their books at year-end. With that selling gone...

AWA is the best pick in the airlines now, followed by shorting UAL. IMO. I've got my money where my mouth is on the first one.

Considering that AWA was losing money even though they had record load factors last summer, I wouldn't bet more on AWA then I could afford to lose.

That being said the odds are a lot better then the lottery!

you did mean shorting both right

So think it will go higher? You have made a nice profit, I'm curious whether you'll get out or stay in now that you've almost tripled your money in several months. You could buy some 30 puts with a small portion of your profits, to lock yourself in.

I'm happy. I jumped in at 15 or so and plan to hang on for the long run.

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daniel baker -- [email protected]
Reliable, fast, and unmoderated forums at ITYT.

From yahoo finance:

18-Sep-01 BONDERMAN, DAVID Director * 156,457 CAL (CLASS B) Sold at $18.80/Share. Proceeds of $2,941,392.

Smart or Dumb?

Goldman Sachs on Airlines : Goldman Sachs recommends overweighting the airline sector, top picks are DAL and CAL, upgrades UAL to MKT OUTPERFORM from Mkt Perform as fundamentals have improved in-line with the industry yet stock price has lagged.

Bondy probably bought that stock way back when for around $3 a share, maybe Dave and Bill (Franke) needed a little cash for incidentals on their shopping trip down under.

I sold the last of my shares at about $25-- and I certainly had a good ride considering my average cost was less than $15.

I do, however, like (in principal) being a CO shareholder and would consider buying some back on a bad-news dip-- say $23 or so.

That having been said, it's difficult for me to picture taking the kind of major position in CAL that I did when it was sub-$15-- that was a unique opportunity and I took the biggest position I could. CAL may well be a good long-term investment, but how high could it go really? There are probably better under-valued stocks out there right now-- and the stock market isn't my preferred investment choice in any case.

Assuming we're still in a recession of some type, I personally can't imagine a CAL share price of $45 any time soon. Hopefully I'm wrong.


[This message has been edited by JonNYC (edited 01-08-2002).]

Very good observation snake. I was waiting for someone to pick up on that link to the rumors about SYD service.

Airlines will have problems earning big profits again 'cause as soon as yields go back up somebody dusts off those planes sitting out in the Mojave and away we go.
Not to mention what happens to pricing as soon as one of them goes into bankruptcy.
Airlines had it sweet as planes were retired due to stage III noise rules and weaker competitors e.g. Kiwi all disappeared. Now we have a situation comparable to the post-Braniff era which spawned People Express.
I don't really see the upside here, you're probably better off with hotel/casinos.